We watched this video in my financial planning class this past Saturday. This guy does a great job of explaining what a Credit Default Swap (CDS) and Credit Default Obligation (CDO) are. The presenter also does a nice job of showing how a tangled web of these derivative contracts can lead to heightened systematic risk. I learned a thing or two from it….
Category: Miscellaneous
New book about Rand
Apparently there is a new biography about Ayn Rand’s life out on the shelves. I plan to purchase it in the near future. Here is a link to the NY Times book review. Maybe this will motivate me to finally get “The Fountainhead” up on my book review page.
New Calculator has arrived!
Call me a geek if you’d like to: My new HP12C arrived today and it feels like Xmas around here.
In case you missed it here’s the background to this post.
Now it’s time to name the new one. Please leave suggestions in the comment box below.
Tri-County recorders
The expiration of the $8,000 first-time homebuyer credit is only 52 days from today. For those who qualify for the $8,000 credit they must close on their transaction no later than November 30th. And although there has been much speculation about an extension of the credit; to date nothing has been passed by Congress and their is growing skepticism that anything will get done before health care reform is enacted (which means it may not get extended).
That said, we are expecting that Monday, November 30th will be a busy day at the county recording offices because many homebuyers will wait to the last minute to close. The excess demand for recordings at that time is amplified by the fact that Thursday, November 26th is Thanksgiving day so all of the recording offices are closed. The problem of course is that the county recording offices may not be staffed to handle the additional capacity and if a transaction doesn’t actually record until the following day it may mean that the buyer does not receive their $8,000 credit.
We would encourage homebuyers to close a week or so before the expiration of the credit so long as time permits but realize this may not be feasible. That said, we have been pro-active in learning how the tri-counties are going to be responding to the expected additional demand. Here is what we found out:
Multnomah County: Will be open for the full day on Friday, November 27th (day following Thanksgiving)/ may add staff if needed/ is not allowing vacations to employees on November 30th/ currently planning on closing at 5PM
Washington County: Will be open for the full day on Friday, November 27th (day following Thanksgiving)/ planning on adding staff to help out/ is not allowing vacations to employees on November 30th/ will close at 5PM but staff will stay as late as needed in order to record all documents in that day
Clackamas County: Will only open for a 5-hour shift on Friday, November 27th (day following Thanksgiving)/ not currently planning on adding staff/ has not made any policies regarding vacations to employees on November 30th/ will close at 5PM as normally scheduled
Clearly Clackamas County recordings are the most at risk. Plan ahead!
A sad day…..
It is with great sadness that I report that today, after 8 years of loyal service, my partner who helped me originate over 700 loans since 2002 has passed away. Don’t worry, Aaron is fine, I’m referring to my HP 12C. If you have any loving memories of my HP 12C please feel free to leave them in the comment section below.
Great quote for all you teams out there
Are you a part of a team that is striving towards a goal? No matter who you are or what you do everyone is a part of a team. Even if you are in a professional role where you act independently you rely on others to support your role. Furthermore, the term “family” can be interchanged with “team”. Everyone is a part of multiple teams that is ultimately supportive of each other in the pursuit of common and individual goals.
I was reading up on the Blazers this morning and came across this quote about teams and culture from Dave. This can be your Monday morning motivational spot:
The point at which culture becomes most critical is the ultimate point at which all great teams aim: the championship. The league is full of talented teams. It’s hard to run roughshod over all comers. Somewhere you have to find unity of purpose, self-sacrifice, and communal belief that give you the edge when another team’s talent approaches yours. Most championships aren’t claimed by teams who netted 70 wins and steamrolled the opposition. They’re won by teams who eked out the extra 3-4 wins needed to emerge victorious that season. There’s your culture.
What are the odds?
OK, I know this has nothing to do with mortgages or personal finance. I apologize in advance. However, a qualified statistician could assign some remarkably low probabilities to this story involving Mike Blowers and the Seattle Mariners game this past Sunday. If you haven’t heard about this story you won’t be disappointed.
If you are a stat man please make a comment below- one in a million?
It seems like it never ends, now we have “re-remics”
Came across this article this evening. New terms just keep popping out of the woodwork.
September 2009 newsletter
Click this link to download our September 2009 newsletter.
This issue includes two articles outlining my outlook for mortgage rates as we head into 2009-
“The Inflation Debate Heats Up” by Evan
“Speak Now or Forever Hold Your Mortgage” by Evan
Newsletters
Every few months we send out a newsletter to our past clients, friends, and family. I was thinking it would be a good idea to post them on this blog in case people want to download them. So, I finally got around to it today.
If you would like to be added to our mailing list please send me an email with your name and address.
Here are the last 3 newsletters we’ve sent:
–July 21, 2009: “4 Steps to Greater Control of Your Money” & “Eight Countries”
–December 19, 2008: “Mortgage Rates Dropping to 4.5%?…Borrowers Can Thank TALF” & “My Six-Month Sabbatical”
–September 23, 2008: “What the Bailout Means for You” & “Customer Spotlight: Quinn’s Prime and Vine”